BOSTON--(BUSINESS WIRE)--One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, today announced the launch of its Chief Restructuring Officer Liability Insurance.
One80’s Private Equity and Transactional Liability Practice, along with its two highly rated carrier partners, have created a comprehensive insurance policy tailored to Chief Restructuring Officers (CROs), and their teams, as they work with distressed companies across a variety of industry classes. The policy offers limits of liability up to $30M and covers the restructuring firm as an additional insured.
CROs are typically responsible for the restructuring process of a distressed company, which allows the management team to focus on day-to-day operations. One80 protects the CRO and their team - given they may lack comprehensive coverage or are subject to high deductibles. Further the directors and officers policy limit for the distressed company is often exhausted and therefore will not cover the CRO.
“One80 is committed to providing highly specialized insurance solutions to executives and senior leaders across all industry classes,” said Matthew F. Power, President, One80 Intermediaries. “I am very proud of our Private Equity and Transactional Liability practice as they remain at the forefront of market intelligence and innovation, allowing us to provide our brokers and clients with best-in-class solutions,” he continued.
“The role of the CRO is not without significant risk given that by definition, the CRO is hired when a company is in distress. At One80 we understand the risks associated with this role and are excited to provide comprehensive coverage to address this gap in the market,” said Jonathan Legge, Senior Managing Director, One80 Intermediaries.
About One80 Intermediaries
One80 Intermediaries is a privately held firm with offices throughout the US and Canada. As a leading insurance wholesaler and program manager, the company offers placement services and binding authority for property & casualty, professional and personal lines, life insurance, and travel/accident and health coverages. One80 specializes in key industry verticals such as medical stop loss, cannabis captives, alternative risk, warranty coverage and lender-based insurance. One80 serves commercial companies, non-profits, public entities, individuals and associations and unions, and has access to all major insurance markets in the US, Canada, and UK. One80 has offices in more than 40 locations in the US and Canada. For more information visit www.one80intermediaries.com.
